Paradise, NV Cost of Living

Paradise cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

An overview of the general cost of living index for Paradise, NV is displayed above for your reference. Residents in Paradise, NV enjoy a cost of living index of 97. This index is 6% lower than the Nevada average, and 3% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Paradise, NV, the average cost of goods and services is 6% lower than it is in Nevada, and it is equal to the national average.

Did you know?

The cost of living in Paradise is 6% lower than the Nevada average.

The cost of living in Paradise is 3% lower than the national average.

The cost of housing in Paradise is 8% lower than the national average.

Compare Paradise, NV Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

Use the salary calculator to compare your current salary in Paradise, NV to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Paradise, NV, then you would need to earn more income in order to maintain the same standard of living. To use the Paradise, NV salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$66,277

$5,523

$1,546

$1,989

Renters

$34,328

$2,861

$801

$1,030

One can approximate the cost of living and the housing affordability in Paradise, NV by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Paradise, NV have a median income of $66,277. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,546 per month to avoid calamity and poverty. The renters in the city have an income of about $34,328, which would make their monthly maximum allowable rental costs $801.

Nevada Sales Tax

State

General Sales Tax

With Max Surtax

Nevada

6.85%

8.15%

Nevada Income Tax

State

Income Tax (Low)

Income Tax (High)

Nevada

0%

0%

When you are determining the total cost of living in Paradise, NV you will want to make sure you consider both the Nevada sales tax and the Nevada income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Nevada is 6.85%, with the highest surtax being 8.15%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Nevada have a range from 0% to 0%.

Goods & Services

Item

Paradise

National avg.

Difference

Haircut

$17.73

$16.09

10.2%

Beauty Salon

$47.47

$37.33

27.1%

Toothpaste

$2.19

$2.45

10.5%

Shampoo

$0.88

$1.00

12.0%

Movie

$11.85

$10.28

15.2%

Bowling

$4.38

$4.93

11.1%

Groceries

Item

Paradise

National avg.

Difference

Ground Beef

$3.60

$3.80

5.3%

Fried Chicken

$1.51

$1.40

8.1%

Milk

$1.92

$2.01

4.4%

Potatoes

$2.35

$3.01

22.1%

Pizza

$9.99

$9.89

1.1%

Beer

$8.78

$8.90

1.3%

Health Care

Item

Paradise

National avg.

Difference

Optometrist

$114.08

$102.16

11.7%

Doctor

$108.13

$108.36

0.2%

Dentist

$98.00

$92.53

5.9%

Ibuprofen

$9.83

$9.28

5.9%

Lipitor

$424.38

$425.82

0.3%

Housing

Item

Paradise

National avg.

Difference

Home Price

$169,800.00

$184,700.00

8.1%

Avg. Mortgage Payment

$1,391.70

$1,202.44

15.7%

Apartment Rent

$880.00

$949.00

7.3%

Transportation

Item

Paradise

National avg.

Difference

Gasoline

$2.48

$2.24

10.5%

Tire Balancing

$46.87

$46.29

1.2%

Utilities

Item

Paradise

National avg.

Difference

All Electricity

$158.99

$165.96

4.2%

Phone

$21.66

$28.68

24.5%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.